With Which of the Following Statements Would Most People in Business

question 31

Multiple Choice

With which of the following statements would most people in business agree?

• A) The short-run profits of a corporation will almost always increase if the firm takes actions the government has determined are in the nation's best interests.
• B) Government agencies and firms almost always agree with one another regarding the restrictions that should be placed on hiring and firing employees.
• C) Although people's moral characters are probably developed before they get into a business school, it is still useful for business schools to cover ethics, including giving students an idea about the adverse consequences of unethical behavior to themselves, their firms, and the nation.
• D) Developing a formal set of rules defining ethical and unethical behavior is not useful for a large corporation.Such rules generally can't be applied in many specific instances, so it is better to deal with ethical issues on a case-by-case basis.
• E) Because of the courage it takes to blow the whistle, "whistle blowers" are generally promoted more rapidly than other employees.

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Definitions:

Financial Statement Presentation

The method by which a company's financial data is arranged and reported to external parties, typically including balance sheets, income statements, and cash flow statements.

Disclosure

The act of making information known, especially information that is of interest to shareholders and potential investors regarding a company's performance and operations.

Segment Information

Details about the different operational or geographical segments of a company, required in financial reports to give insight into performance and risks.

AASB 1039 Concise Financial Reports

Australian accounting standard that provides guidelines on preparing abbreviated financial statements that present a concise overview of a company's financial performance and position.